Insider Buying: ProAssurance Director Purchases 5,000 Shares of Stock (PRA)
ProAssurance (NYSE:PRA) Director Piazza Samuel A. Jr. Di purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $45.84 per share, for a total transaction of $229,200.00. Following the completion of the acquisition, the director now directly owns 6,250 shares in the company, valued at approximately $286,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ProAssurance (NYSE:PRA) traded up 0.44% during mid-day trading on Tuesday, hitting $45.93. The stock had a trading volume of 56,008 shares. ProAssurance has a one year low of $42.29 and a one year high of $49.53. The stock has a 50-day moving average of $44.73 and a 200-day moving average of $44.80. The company has a market cap of $2.679 billion and a price-to-earnings ratio of 12.14.
ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $222.50 million for the quarter, compared to the consensus estimate of $177.24 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts predict that ProAssurance will post $3.12 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PRA shares. Analysts at Keefe, Bruyette & Woods cut their price target on shares of ProAssurance from $48.00 to $46.00 in a research note on Thursday, August 7th. They now have a “market perform” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of ProAssurance in a research note on Wednesday, August 6th. They now have a $46.00 price target on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ProAssurance presently has a consensus rating of “Hold” and an average target price of $46.75.
ProAssurance Corporation is a holding company for property and casualty insurance companies focused on professional liability insurance.
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